Tax Dictionary – IRS Wage and Income Transcript

IRS Definition

A wage and income transcript shows data from information returns the IRS receives, such as Forms W-2, 1099, 1098 and Form 5498. Current tax year information may not be complete until July. This transcript is available for up to 10 prior years using Get Transcript Online or Form 4506-T.

More from H&R Block

You can request your wage and income transcripts from the IRS. This transcript shows all your income information that your employers, banks, financial institutions, and other payers report to the IRS. Examples of income information reported to the IRS include:

  • Wages on Form W-2
  • Nonemployee compensation on Form 1099-MISC
  • Interest on Form 1099-INT
  • Retirement distributions on Form 1099-R
  • Sale of stocks on Form 1099-B

People often request their wage and income transcripts to verify their income information when they’re preparing tax returns, to respond to a CP2000 notice, or to investigate tax identity theft.

You can request your wage and income transcripts using the IRS Get Transcript tool on IRS.gov. This transcript may be available as early as mid-February of the year after you earned the income, but the transcript may not reflect all of your income until the fall.

Learn more about tax transcripts and how to research your IRS account.

 

Related Topics

Related Resources

IRS Notice CP518B – You Didn’t File a Tax Return

Learn more about notice CP518B and how to handle an unfiled business tax return with help from the tax experts at H&R Block.

Tax Dictionary – In-Business Trust Fund Express Installment Agreement

Read the IRS definition of an in-business trust fund express installment agreement (IBTF express) and get more insight from the tax experts at H&R Block.

IRS Notice CP71C – Annual Balance Due Reminder Notice

Learn more about form CP71C, why you received it, and how to handle an IRS CP71C notice with help from the tax experts at H&R Block.

IRS Letter 5041 – Follow Up Notice

Learn more about IRS Letter 5041 and how to handle an inquiry of your business' income with help from the tax experts at H&R Block.